Fee from estate agent

Gilldo

Hi, I'm new to this site and looking for some help. My partner and I have saved a deposit for a property, we viewed a property and really liked it but I received an email advising the estate agents buyers premium is £1250+VAT. The house wasn't from an auction but if they don't sell will go to auction. We are gutted as we don't have this extra cash to pay. I asked what the fee was for and she said it was to take the property off the market. Any help please

somethingcorporate

Seems rediculous and I read somewhere that some EAs backed down on doing this.

Where in the country are you?

Gilldo

Thank you for your reply. I am in Scotland.

kingstreet

If that's the only way to get this particular property, pay it.

Otherwise, gracefully withdraw and say you'll buy elsewhere whilst putting a note through the door of the vendor explaining you don't feel this fee should be your responsibility.

csgohan4

Shocking, what estate agent?

Shann_22x

Hi Gilldo,

I am in the same position as you. We found a property but they want us to pay ££££+VAT upfront (as well as the deposit as well as 1 month rent). Basically from what estate agents have told us, is that it is the price of the Admin fees. So to write up tenancy agreements, contacting references etc. They charge £££ PER tenant making an application and then if you need a guarantor (who would pay your rent if you can't) you would also need to pay PER guarantor. It also means that once they receive that money from you, they WILL cancel all viewings and take it off the market until everything has been checked out. Either way if you get accepted or even rejected for whatever reason.... You don't get that money back. That's one way estate agents make their money.

Hope this make sense! It may not be exactly the same as we're located in South East, but I know that's what our estate agents told us!

Gilldo

It's actually a property to buy. I have never heard of this before